We are pleased to announce that our company has become a strategic partner of PSA International, a global leader in the logistics industry. As a result of this transaction, PSA will acquire a majority stake in Loconi Intermodal, marking a new chapter in our company’s history and opening up numerous opportunities for growth.
On August 9, 2024, the current shareholders of Loconi Intermodal signed a preliminary agreement to sell a majority stake in our company to PSA Baltics N.V., a subsidiary of PSA International, the global leader in port management and operator of over 60 maritime and rail terminals worldwide.
According to the agreement, which is still subject to approval by the relevant regulatory authorities, PSA will acquire 85% of the shares in the Loconi Intermodal capital group. The remaining 15% of the shares will be held by ATC CARGO, which currently owns 39% of the shares. The other sellers were the Syntaxis Capital investment fund and private individuals. The investor’s offer valued the entire Loconi enterprise (Enterprise Value) at PLN 118 million.
PSA International is one of the world’s largest port terminal operators. PSA International is also a 40% shareholder in Poland’s largest container terminal, Baltic Hub. The main sector of the Singapore-based PSA group is port terminals. PSA is one of the largest port terminal operators globally, present in 45 countries, with two flagship terminal complexes in Singapore and Belgium. In Europe, PSA holds shares in 8 maritime terminals: 2 in Belgium, 3 in Italy, 1 in Turkey, 1 in Portugal, and 40% of the Baltic Hub terminal in Gdańsk.
PSA believes that intermodal transport is the future of Europe and perfectly complements port terminal operations, allowing customers to build smoother, more stable, and sustainable transport solutions.
PSA’s acquisition will enable Loconi to strengthen the Polish operator’s service offerings, allow further investment in terminal infrastructure, and introduce additional innovative transport and IT solutions within the company.
In a special message to Loconi employees, Loconi Intermodal CEO, Lidia Dziewierska, emphasized that this acquisition is a tremendous opportunity to accelerate the company’s strategic goals. “Signing the agreement with PSA International is a landmark moment in our company’s history. After 14 years of existence and dynamic, albeit organic, growth, the company has been recognized by one of the global leaders in the container market. Our goal was to find a partner who shares our vision of sustainable transport and development; who, believing in our values, will help us build solutions that enable our customers to shift cargo from road to rail in a rational, customer-friendly manner, and one that is beneficial to our clients, partners, and employees. PSA seems to be the ideal partner to realize our vision and strengthen our position as a key player in the intermodal market in Central Europe.“
It is worth noting that the agreement will be finalized after the fulfillment of statutory conditions and notifications, which may take up to 6 months.
We would like to take this opportunity to sincerely thank our clients, partners, and employees for their support and commitment. The trust, appreciation, and recognition from our partners have been extremely motivating and have significantly contributed to PSA considering us a valuable partner for the future.
We will strive to ensure that our collaboration with PSA International brings tangible benefits primarily to our customers and partners, allowing us to continue our mission of providing services at the highest level.
The Loconi Intermodal Team
Gdynia, August 12, 2024
